<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

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</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

Property News

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Residex has presented the statistics summary for April looking at rental markets across Australia.
It suggests rents dipped in Sydney for houses over the past year.
The big annual rental falls for houses and units continues to be in Perth and Darwin.
Table 1: April 2016 Summary 
Houses
<a href="/images/2016/06/03/Screen%20Shot%202016-06-03%20at%201.00.17%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/06/03/Screen%20Shot%202016-06-03%20at%201.00.17%20PM.png" alt="">
Units 
<a href="/images/2016/06/03/Screen%20Shot%202016-06-03%20at%201.00.25%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/06/03/Screen%20Shot%202016-06-03%20at%201.00.25%20PM.png" alt="">
Source: Residex
 
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jchancellor-FAypfDUnLy

Residex pinpoints rents dipping in Sydney

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The decision to revalue properties on the Kings Cross strip have been welcomed by real estate agency Gunning.
The decision by the Valuer General to step in and respond to a change of market conditions was the right move, said Gunning principal Malcolm Gunning. 
"NSW Valuer General Simon Gilkes took advice on the changing retail conditions due to the lockout laws and revisited the land values in the area based on their effect," Gunning said.
The lockout laws restrict the entry of patrons after 1.30 am and have affected property values in the area, according to a report by the Valuer General.
"He also recognised that the area is rapidly changing with the two major residential developments, at the site of the Crest Hotel and the Bourbon Hotel," added Gunning.
"It is great to see that Gilkes understands the property market and is willing to seek and ultimately take advice from industry experts in the form of the Land Valuation Advisory Group." 
"His decision clearly reflects the current state of affairs on the Kings Cross strip and recognises that valuations can move in either direction. This is a great win for the Kings Cross strip and NSW."
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prateek24-ezbwHMbNAk

Revaluation of properties in Sydney's Kings Cross due to lockout laws welcomed

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The 2018 Commonwealth Games is estimated to inject $2 billion into the Gold Coast economy, with $320 million worth of construction projects, making it an attractive prospect for investors.
Infrastructure benefits would include 1,200 apartments (built for the Athlete’s Village) as well as helping the tourism industry and transport.
The Liveable Housing Design of apartments would make them suitable for all people; regardless of age, family needs or mobility.
The announcement of Commonwealth Games has helped the Gold Coast property market, similar to what it did for Sydney (Olympics, 2000) and Melbourne (Commonwealth Games, 2006), according to a presentation by PRDnationwide.
Between 2014 and 2015, houses in the area recorded a rise in median prices of 6.7%, says the research.
Average days on market and vendor discounting has also been improving over the four quarters to Q4, 2015. Combined average vendor discounting has decreased compared to 2014, sitting at a combined average of -3.4% in 2015, suggesting buyer competition is increasing and people are willing to pay more to secure the deal.
"Whilst major developments projects relating to the Commonwealth Games and infrastructure improvements are taking place across the Gold Coast, the property market has shown positive performance. An increase of 13.2% in house transactions and 14.5% in unit sales over the past 12 months suggests demand is heating up – thus now is the perfect time to enter the market," it says.
Grocon Pty Ltd was chosen to be the developer for the Games Village in 2014, and it is Grocon’s first large-scale construction on the Gold Coast. 
<a href="/images/2016/05/17/Screen%20Shot%202016-05-17%20at%2010.39.21%20AM.png" target="_blank">Click to enlarge</a>
<h3>
<img src="/images/2016/05/17/Screen%20Shot%202016-05-17%20at%2010.39.21%20AM.png" alt="" width="671" height="328"> </h3>
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<h3><img src="/images/2016/05/17/Screen%20Shot%202016-05-17%20at%2010.45.08%20AM.png" alt="" width="804" height="399"></h3>
Recent market condition
Robust performance in Southport, Coomera and Carrara house markets suggests positive impact of 2018 Commonwealth Games related major project developments on the property market of these suburbs.
• Southport
Annual Median Price Growth: +8.8% (House), +3.3% (Units) Annual Sales Transaction Growth: +29.4% (House), +26.2% (Unit)
Southport recorded higher median price growth compared to Gold Coast City LGA of 6.1% and 1.9% for house and unit respectively. Double digits increase for sales price in conjunction with an increase in sales transaction indicates strong demand and real capital growth in the area.
• Coomera
Annual Median Price Growth: +3.8% (House), +10.7% (Unit) Annual Sales Transaction Growth: +36.5% (House), -6.0% (Unit)
High increase of house median growth and sales transactions in Coomera suggests that its house market has performed well, making it one of the most outstanding suburbs in the Gold Coast.
• Carrara
Annual Median Price Growth: +4.6% (House), +0.8% (Unit) Annual Sales Transaction Growth: +34.1% (House), +8.3% (Unit)
Carrara popularity has risen for the past 3 years given its consecutive increase of median price for houses. Buyers are shifting their attentions to enter Carrara property market.
Health and education investment is also getting a boost with $10.2 million in funding is set to be directed to the Gold Coast Hospital over the next two years, resulting in 6,700 patients receiving outpatient surgery before 30 June 2017. Additionally, $50 million in funding will go towards a school in Coomera, creating both job and education opportunities.
<a href="/images/2016/05/17/Screen%20Shot%202016-05-17%20at%2011.00.39%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/17/Screen%20Shot%202016-05-17%20at%2011.00.39%20AM.png" alt="" width="790" height="328">  
The Gold Coast market recap for 2015 above clearly identifies that houses in almost all of the suburbs surrounding the 2018 Commonwealth Games have witnessed median price growth over the past 12 months, PRDnationwide says.
Coomera and Runaway Bay have been some of the strongest performers witnessing combined average growth of 7.3% and 13.6% respectively.
Gerald Adam (PRDnationwide Southport Principal) confirms the projected growth for 2015 of 7.0% has been surpassed in Southport, with a median house price growth of 8.8%.
Greg Brewster (PRDnationwide Runaway Bay Principal) states that he has received a high number of interstate investor interests for his area as infrastructure developments adds value from the investor perspective.
Both share similar expectations of their areas upcoming future positive growths, backed by infrastructure developments, 2018 Commonwealth Games and their individual suburb locational features.
The recent growth witnessed is expected to continue up to 2018 and beyond thanks to overall improvement in market conditions as well as the infrastructure and publicity the Gold Coast will be receiving due to the Commonwealth Games.
The Gold Coast City Council has one of the highest projected population growth in Queensland and as was the case with previous sporting events in Sydney and Melbourne, it is expected that the new development will not go to waste, but rather enhance the attractiveness of the surrounding areas. 
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jonathanchancellor-7SQnKwU6yx

2018 Commonwealth Games boosting property market in Gold Coast: PRD Research

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Investa Property Group has appointed Jonathan Callaghan as its chief executive officer and Peter Menegazzo as its chief investment officer.
The CEO appointment was announced by the chairman, David Baffsky.
Mr Callaghan has been with the group for more than 10 years, initially as group general counsel and more recently as managing director and finance director.
Mr Menegazzo has been with Investa for over 11 years.
The former chief executive Campbell Hanan is at Mirvac. 
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Investa appoints Jonathan Callaghan as CEO

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Two new properties are listed on the top ten discounted properties nationwide list from SQM Research - one in South Perth, the other in New South Wales.
The South Perth property, number two on the list, has had the price reduced $775,000 according to SQM managing director Louis Christopher.
He said the home, 82 Douglas Road South Perth, first came on the market in March 2016 with an original asking price of $1,950,000.
"The vendor has reduced the price twice, once in the middle of March, then again late last month. Overall, the property has been reduced by a massive $775,000," he said.
"With a total four bedrooms, four bathrooms, and two car spaces, and a reduction of 40 percent this property certainly has a lot to offer.
"It features two studies, two large living rooms, a generous combined kitchen and dining quarters, shed, recently installed reverse cycle air-conditioning and a below ground outdoor pool. The property is located approximately 7km outside of Perth CBD, and within short walking distance of public transport."
The second property, 69 Sarah Road Matcham, on the NSW Central Coast has spent some 516 days on market already and first came on the market in December 2014 with an asking price of $2,570,000 that was cut to under $2 million in January 2016.
It was reduced further to its current listing price of $1,775,000 last month, Louis Christopher said.
"The listing also states that a large selection of the current furniture is also included in the sale price. This is great news for interstate buyers who might not want to cart all their own furniture, and or buyers looking to lease the property out straight away," he said.
"The property is located within close proximity of local schools, cafes and shops including Erina Fair Shopping Centre. The home is also within close proximity of the stunning Terrigal Beach and only 1.5 hours’ drive from Sydney CBD."
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mick.cee-iDmgDDAmu8

NSW Central Coast trophy makes SQM top ten discounted list

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In our Purchase or Pass segment this week with Charles Tarbey and Tom Panos we see if it was still possible to get a great investment, close to the city, for a reasonable budget at the end of last year.
Location: 8.5kms from CBD
Beds: 1
Bath: 1
Parking: 1
SQM: 68m
Price: $625k
Rent: $550-600/wk
Chris: It’s a 1 bed, 1 bath unit with parking 8.5km’s from the CBD and <a href="https://www.realestate.com.au/property-apartment-nsw-coogee-121217178" target="_blank">less than a km to the local action</a>. It’s a 68 sqm first floor unit, with courtyard off the lounge for outside dining and entertaining. It’s located at the back of the building in a well maintained security block. The property sold for $625k, has a rental estimate of $550-600/wk and has strata fees of $633/qtr. I thought we’d look at some of the information on the advert and decipher how we’d read into that. So when you hear something that’s maybe 8.5km from the CBD and less than a km from the heart of the suburb, what does that mean to you Charles?
Charles: Well, as we’ve always said the western suburbs start at Centennial Park for most people. It’s nice and located close to the city and if you’ve brought it up or you’ve raised it as a property for purchase or pass it’s likely to be in the eastern suburbs somewhere and you’ve likely bought it off one of your mates who work near the eastern suburbs. That’s what I got out of there. What have you got out of that Tom?
Chris: What about for you Tom, 68sqm?
Tom: It says to me that it’s not tiny, it’s the sort of unit that’s liveable. So they’re happy to talk about the size there. And on that previous point, 8.5ks to the city. Anything within 10ks of the city you think it’ll suit a city dweller. So it feels like you might not be right in the heart of it, but you’re close to it. That’s the initial impression.
Chris: Charles, for some of the listeners in the Blue Mountains who like fresh air, how does the courtyard suit?
Charles: Well, I had a look at the photo it looked pretty nice. It looked like I was looking at a wall but was that right, are you looking at a bit of wall?
Chris: Potentially, yeah
Charles: So we’d call that privacy, right, so you get no neighbours looking at you. So that’s what I’d get from that. Tell me, 68sqm does that include a patio?
Chris: That’s including the patio, yeah
Charles: and not the car space
Chris: Yeah, I think car space is maybe 15 on top or something. So again it’s not massive.
Charles: No, it’s a great price for that size
Chris: Backward block Tom?
Tom: Backward block to me, straightaway the initial feeling is that it’s quiet, that you’re not going to be hearing lots and lots of noise. That’s the suggestion on why the agent would write that in the marketing literature.
Chris: Maybe the block’s the other way around and the backs the freeway, you never know so you’ve also got to go and check it out at the same time. But in this case that’s right. North facing Charles?
Charles: Well, that’s an important part of it, you know, the sun, making sure it’s not facing the west where you’ve just got to have your air conditioning on at a certain time. Facing north always is an appealing thing and every agent will use it when they can.
Chris: 22 end block Tom?
Tom: 22, it’s basically saying it’s not one of these big Meriton complexes, where you won’t know everyone. 22, you’ll get to know who the people are there. It’s also not as good as say 6, 8, 10 or 12, but 22 says that it’s not a monster of a building. 
Chris: Yeah, reasonable size. 633 a quarter for the strata fees Charles?
Charles: Yeah, I thought that was really excellent. Actually, and I would have promoted that as probably one of the first points because some of those buildings down there can cost you a great deal more and a lot of people are very concerned about strata fees and they should be.
Chris: Yeah, and I’ll do the final one, 5-600 a week for the rent, 4 and a half to 5 per cent rent this market it’s pretty superb so purchase or pass for you guys?
Charles: Definitely purchase based on the price
Chris: And what about you Tom?
Tom: Purchase, whether it’s 625 or 650 I’m not quite sure what it was, but it’s a good buy.
(Chris) I think this is an almost text book purchase for someone that has a limited budget and still wants to stay in a blue chip suburb. Everything ticks the boxes for me so I would PURCHASE
To watch the discussion in full, <a href="https://www.youtube.com/watch?v=eKMvn0Pu9nc" target="_blank">click here</a>.
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Purchase or Pass: Property investments on a reasonable budget with Chris Gray

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Aquis Australia, controlled by Hong Kong billionaire developer Tony Fung, is buying a 1700 sum beachfront site in Surfers Paradise for more than $23 million.
The 3464-3466 Main Beach Parade is one of the last major beachfront development sites in the area and was created through the amalgamation of apartments in the Pacific Point apartment building and two adjoining properties, according to the Courier Mail.
It will be Fung's third major acquisition of a site in Surfers Paradise in a year.
The 1700 sqm site has 70m of beach frontage.
“Beachfront development sites are increasingly rare or come with major hurdles to development,” Fung was quoted as telling the Courier Mail.
Fung also controls the ASX-listed Aquis Entertainment that owns and operates Casino Canberra and is currently progressing plans a for a large-scale real estate and entertainment project at Yorkeys Knob, north of Cairns.
Last year, he paid $55 million for the former International Beach Resort on the Surfers Paradise Esplanade where he is said to be planning a Q1-scale apartment tower.
Last week, a consortium comprising Aquis Australia, CCCC International Holding Ltd and Tandellan Group completed the acquisition of a 1.05ha site bordered by the Gold Coast Highway, Palm Avenue, Cypress Avenue and Surfers Paradise Boulevard for $40 million.
Fung said he and his partners were considering a range of development options for the site.
“It is the last, large-scale undeveloped site in Surfers Paradise and presents a tremendous opportunity to create something special that will compete for attention on the world stage,” he said.
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HK's Tony Fung acquires another Surfers Paradise site for $23 million

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Sentiment among residential property professionals turned positive after three consecutive quarterly falls, led by Victoria though Western Australia was still falling, according to NAB’s Residential Property Index for the first quarter of 2016.
Meanwhile, foreign buyers are pulling back across most states except Queensland.
The NAB Residential Property Index rose to +6 in Q1’16 (+1 in Q4’15), but is still sitting below its long-term survey average (+13).
NAB expects average national house prices in 2016 to rise by 1.5%, with unit prices to fall 1%.
According to NAB Group Chief Economist Alan Oster: “The latest results continue to paint a very mixed picture across the country, with positive sentiment in the Eastern seaboard states offsetting negative results in all other states.”
Foreign buyers are shifting their focus to Queensland (more than one in five new sales). 
Overall, sentiment remains strongest in Victoria, which is also the only state tracking above its long-term average. Sentiment improved most in NSW in Q1 2016 and also lifted modestly in Queensland and SA/NT (but still negative). In contrast, it fell to a new survey low in WA which continues to trail the rest of the country by a considerable margin.
Survey expectations for national house price growth over the next year were broadly unchanged, but again there were notable differences across the states.
Expectations for price growth improved most in Victoria (1.7%) and are now highest in the country. They also improved in SA/NT, but remain quite weak (-0.1%). Expectations weakened a little in Queensland (1.2%) and were also revised down in NSW (-0.2%) and WA (1%).
Looking further out, house prices are expected to grow in most states in two years, with Victoria (1.6%) and Queensland (1.4%) leading the way, with small gains also forecast for WA (0.4%) and SA/NT (0.3%). NSW is the exception, with the survey predicting modest falls (-0.1%).
“At this point in the housing cycle, it is not clear whether the gains over first quarter of 2016 are pointing to an ongoing trend, or if it is simply a flash in the pan before the market peak, perhaps triggered by external factors,” said Oster.
Accordingly, NAB has marginally increased its average national house price forecast in 2016 to 1.5% (from 1%). Unit price forecasts are broadly unchanged, with large additions to supply expected to contribute to a decline of 1% over 2016.
By capital city, Brisbane and Melbourne are expected to be the best performers, with Brisbane house prices forecast to rise by 2.6% in 2016, while Melbourne increases 2.3%. Sydney house price growth is forecast to moderate significantly to just 1.5%. The Adelaide market is not expected to improve much in 2016 - an increase 0.2% roughly offsetting a similar fall in prices in 2015. Perth will remain very weak as prices decline by another 3%.
For apartments, flat to falling prices are expected across most capital cities. The worst declines are forecast to again be in Perth, as well as Melbourne (both -3%). The decline in Perth largely reflects economic conditions, while falls in Melbourne are expected as a result of added supply and weaker investor demand. Sydney unit prices will also be weaker (-0.6%), while Brisbane unit prices are expected to decline by a similar amount.
Another key take out from the survey is the smaller role being played by foreign buyers in Australia’s housing market.
“Their market share of property sales in both new and established housing markets has been falling since the final quarter of 2015, which also coincides with the introduction of tighter legislation around foreign purchases of Australian property,” said Oster.
In new property markets, the share of demand coming from foreign buyers fell to a 2½ year low of 11.8% and down from a survey high of 16.8% in Q3’14.
Moreover, the survey is highlighting a shift in foreign buyers away from Victoria and NSW to Queensland, perhaps in search of better value.
Foreign buyers in Victoria and NSW accounted for around one in 10 new property sales in the March quarter, but in Queensland they purchased more than one in five new properties.
Foreign buyers had previously accounted for around one in three new home sales in Victoria in late-2014 and around one in five sales in NSW in early-2015.
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Property sentiment lifts after three quarterly falls: NAB's Q1 survey

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Listed real estate services provider McGrath has downgraded FY16 forecasts due to weaker than expected market conditions and said EBITDA figures will be $4 to 5 million lower than the prospectus forecast.
Lower than expected listings and sales volumes in the first half of April drove the weaker forecast, along with listings in the newly-acquired Smollen Group which are now expected to be 25-30 percent lower in Q42016 than previously forecast, according to Bell Potter.
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The latest Bell Potter report on McGrath said the downgrade is disappointing given the company was tracking to budget for the first 9 months of FY16 and more so given it was largely attributed to the recently acquired Smollen Group.
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The Bell Potter report stated they have downgraded EPS forecasts in FY16, FY17 and FY18 by 15 percent, 25 percent and 24 percent respectively, with the revised FY16 EBITDA forecast of $26.5m within the guidance range of $26-27m.
"The majority of the downgrades have been in the company owned sales division, with reductions in sales per agent and EBITDA margin reflecting the tougher market conditions experienced in Q4 which are likely to extend into FY17 and FY18," it said.
"Given the severity of the 4Q slowdown our earnings downgrades are higher in FY17 and FY18. We now expect FY16 revenue of $137m compared to the revised guidance range of $136-140m, and EBITDA of $26.5m compare to revised guidance of $26-27m."
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McGrath downgrades FY16 forecasts: Bell Potter

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GUEST OBSERVER
Today’s RBA Minutes are similar in most respects to the Statement following the April meeting. But the wording around the considerations for monetary policy implies to us that the easing bias is stronger.
Mainly because the higher Australian dollar (AUD) will “complicate” the economy’s adjustment to different growth drivers.
It may be that the RBA has decided that the fundamental drivers of the AUD, like global bulk commodity prices, are now more likely to be higher over the rest of the 2016.
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The minutes have a comment that the terms of trade is set to rise modestly because of the pick-up in bulk commodity prices. It means the risks on the AUD may be rebalancing to the upside, and away from the more comfortable (for the economy) levels under USD0.75. A higher AUD complicates lots of things, especially the inflation outlook. Lower inflation outcomes could justify lower cash rate settings than current. Especially if some more downside growth risks, like significant global financial market volatility, become reality.
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The minutes indicate a number of positive developments in the domestic economy. Established house price growth has continued to ease, reducing the risks around the property sector. The strong lift in supply of new apartments has also resulted in an easing of their prices. But demand conditions across the country vary considerably. Surveys of national business conditions have been more favourable recently, with signs of a pick-up in non-mining profits. But non-mining investment intentions remain broadly unchanged even though business credit growth has lifted over the past six months.
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Employment growth in the non-mining sectors has been strong. While the recent jobs data was weak, the RBA said it needed to be compared to the unusual strength of activity through late 2015. The unemployment rate looks to have peaked in mid-2015 and leading indicators of the jobs market are mixed. Wages growth remains subdued despite firm jobs growth. Unit labour costs growth has been negligible for the past four years.
There was no RBA commentary on the AUD that indicated that it was out of line with fundamentals. The minutes list the reasons for the AUD moving higher since late 2015. Namely, higher bulk commodity prices and above-trend GDP growth for 2015 of 3% and easy US monetary policy.
We expect the RBA to keep the cash rate at 2 percent over coming months. The domestic economy is rebalancing towards different growth drivers and employment growth is firm. The major issue is the trend to lower inflation outcomes. The higher AUD complicates the picture. So a very low underlying inflation result, say near 0.3%q/q and 1.7%pa, next Wednesday could support a rate cut.
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Michael Workman is senior economist, <a href="https://www.commbank.com.au/corporate/research?ei=mv_research" target="_blank">Commonwealth Bank</a>.
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